Ferrari (NYSE:RACE) Given New $460.00 Price Target at JPMorgan Chase & Co.

Ferrari (NYSE:RACE) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $525.00 to $460.00 in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 11.18% from the company’s previous close.

A number of other analysts have also recently commented on RACE. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus price target of $497.86.

Ferrari Trading Down 4.7 %

RACE stock opened at $413.76 on Thursday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 52-week low of $399.27 and a 52-week high of $509.13. The company’s 50-day simple moving average is $456.26 and its 200-day simple moving average is $452.94. The firm has a market cap of $100.29 billion, a P/E ratio of 45.22, a PEG ratio of 4.43 and a beta of 0.94.

Institutional Trading of Ferrari

Hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Ferrari by 43.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,367 shares of the company’s stock valued at $1,430,000 after purchasing an additional 1,022 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in Ferrari during the fourth quarter worth $18,276,000. Park Square Financial Group LLC purchased a new stake in Ferrari in the 4th quarter valued at $32,000. Brucke Financial Inc. acquired a new stake in shares of Ferrari in the 4th quarter worth $502,000. Finally, Jefferies Financial Group Inc. increased its stake in shares of Ferrari by 113.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 6,615 shares of the company’s stock worth $2,825,000 after acquiring an additional 56,008 shares during the last quarter.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.